Name: Date: World Currencies: Exchange Rate Word Problems

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World Currencies: Exchange Rate Word Problems

Most of the world's currencies, including the euro (EUR), the US dollar (USD), the Canadian dollar (CAD), the Australian dollar (AUD), and the British pound (GBP), are floating, or variable. This means their values and their exchange rates depend on the international money market.

Instructions: Use the exchange rates in the table to help you solve the word problems. Show your work in the space provided.

USD GBP CAD EUR AUD

USD ($) 1

0.63 1.09 0.69 1.15

GBP () 1.60 1 1.74 1.10 1.83

CAD ($) 0.92 0.58 1 0.63 1.05

EUR () 1.46 0.91 1.59 1 1.67

AUD ($) 0.87 0.55 0.95 0.60 1

1) Charlotte earned 100 for dog walking. The new bodyboard she wants to buy costs $120 AUD. After her purchase, how much money will she have left in British pounds?

2) Jack lives in Ottawa, Ontario, Canada. His uncle lives in London, England. For his birthday, Jack received 20 from his uncle. How many Canadian dollars can he buy with his birthday money?

3) Olivia lives in Sydney, Australia. Her grandmother lives in Paris, France. For Christmas, she received 40 from her grandmother. How many Australian dollars can she buy with her Christmas money?

4) William has $11 USD. The video game he wants to buy costs $10 AUD. Does he have enough money to buy the game? If not, how much more US money does he need?

5) Sophie has 35. She wants to purchase jeans for $25 CAD and a tee shirt for $15 CAD. After her purchases, how many euro will she have left? (Round to the nearest euro.)

BONUS: Which currency in the table has the highest valued currency unit?

? 2009 Pearson Education, Inc. All Rights Reserved

World Currencies: Exchange Rate Word Problems Answer Key

1) Charlotte earned 100 for dog walking. The new bodyboard she wants to buy costs $120 AUD. After her purchase, how much money will she have left in British pounds? Answer: 34.65 Work: 100 x 1.83 = 183 183 -120 = 63 63 x .55 = 34.65

2) Jack lives in Ottawa, Ontario, Canada. His uncle lives in London, England. For his birthday, Jack received 20 from his uncle. How many Canadian dollars can he buy with his birthday money?

Answer: $34.80 CAD Work: 20 x 1.74 = 34.80

3) Olivia lives in Sydney, Australia. Her grandmother lives in Paris, France. For Christmas, she received 40 from her grandmother. How many Australian dollars can she buy with her Christmas money?

Answer: $66.80 AUD Work: 40 x 1.67 = 66.80

4) William has $11 USD. The video game he wants to buy costs $10 AUD. Does he have enough money to buy the game? If not, how much more US money does he need? Answer: Yes, $12.65 AUD Work: 11 x 1.15 = 12.65

5) Sophie has 35. She wants to purchase jeans for $25 CAD and a tee shirt for $15 CAD. After her purchase, how much money will she have left? (Round to the nearest euro.)

Answer: 10 Work: 35 x 1.59 = 55.65

25 + 15 = 40 55.65 - 40 = 15.65

15.65 x .63 = 9.8595

BONUS: - the British pound (GBP)

? 2009 Pearson Education, Inc. All Rights Reserved

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